AUD/CHF 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Aussie is surging against the Swiss currency simultaneously in two ascending channel patterns, which are in the middle of an ascending triangle pattern. First of all, it has to be noted that the short term ascending pattern has still not clearly showed its borders, as the currency exchange rate trades in a very tight range. Due to that, the borders of the short term ascent are still to be discovered. However, the middle term pattern, which represents the pairs surge from the triangle's support line to its resistance, clearly shows that the currency exchange rate recently bounced off the channel's lower trend line and has begun to surge. Although, the rate might retreat to the ascending channel's support line once more, as 64% of open positions are long.
© Dukascopy Bank SA
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